1 JUNE 1861, Page 1

The prospects of peace have decidedly increased, two at least

of Lord Palmerston's "half-dozen very respectable wars " having been taken out of the list. The French troops, for example, are really recalled from Syria, in spite of a protest from St. Petersburg, in which the Czar declines to accept any share in the responsibility of the act. The Prussian Government, also, moved apparently by the failure of its efforts to secure the leadership of the German armies, has abandoned its preparations for the occupation of Holstein. There remains the quarrel between Hungary and Austria, which appears more gloomy than ever, the Hungarians being exasperated by the exaction of the taxes by military force. It is possible, how- ever, that even this cause of conflict may pass away, the Emperor being still undecided, and the Hungarians most unwilling to com- mence hostilities this year. Rumours are afloat also of intrigues in Germany, which would undoubtedly result in war. We have de- scribed them at length elsewhere, and need only remark here that they point to the formation of a second Confederation of the Rhine once more under the protection of a Napoleon.